Allo, a Dubai-based tokenization platform, has secured a $100 million Bitcoin-backed credit facility from a consortium of lenders, including Greengage. The company has previously raised $750,000 through Binance Labs and nearly $2 million in seed funding, facilitating over $2.2 billion in tokenized assets on the BNB Chain. With the tokenization market projected to reach nearly $2 trillion by 2030, Allo's innovations are part of a growing trend that allows real-world assets to be digitized for easier investment.
Major developments in the crypto space include the launch of Ripple's RLUSD stablecoin, hailed as a "game changer" for cross-border payments by industry veterans. Meanwhile, Toncoin saw an 80% surge in whale activity amid a $405 million market sell-off, while Bitcoin retraced to $102,257 after hitting a record high. Additionally, Binance announced the delisting of three assets—Kaon (AKRO), Bluzelle (BLZ), and WazirX (WRX)—effective December 25, 2024, due to compliance with its standards.
The Digital Chamber is calling for the SEC to "reset" its relationship with the crypto sector as Donald Trump prepares to return to the presidency. The advocacy group argues that Trump's crypto-friendly policies could foster transparency and cooperation, addressing regulatory concerns in his first 90 days. They also criticized the SEC's previous regulatory approach under Gary Gensler, advocating for clearer guidelines to help market participants comply with regulations.
Rexas Finance (RXS) is emerging as a promising cryptocurrency, drawing parallels to Solana's remarkable 11,192% surge in 2021. With a successful presale raising over $28.1 million and a current price of $0.15, RXS has gained traction through listings on CoinMarketCap and CoinGecko, alongside a CertiK audit for security.The project is also engaging its community with a $1 million giveaway, enhancing investor interest. As the crypto market rebounds, Rexas Finance's focus on real estate tokenization and DeFi positions it for significant growth, potentially mirroring Solana's success.
Kostovetsky warns that investing in cryptocurrency resembles gambling more than traditional investments, highlighting its volatility and the need for risk tolerance. While Trump’s administration may foster crypto adoption through regulatory clarity, the SEC's stance on cryptocurrencies as securities complicates the landscape. The Federal Reserve's refusal to hold a bitcoin reserve further underscores the challenges in establishing a stable framework for digital currencies.
UBS shares fell by 3.5% to CHF 26.85, marking a significant loss in the SMI, with a daily turnover of over 5 million shares. The stock is currently 9.20% below its 52-week high of CHF 29.57 and has seen a low of CHF 22.53 this year. Analysts project earnings per share of USD 1.75 for 2024, with the next quarterly results due on February 4, 2025.
The US government has rejected Sam Bankman-Fried's appeal to overturn his conviction related to the FTX collapse, deeming his claims of trial bias unfounded. The authorities maintained that the jury's verdict was sound and that the trial's procedures were lawful, dismissing his arguments for a retrial as lacking merit. Bankman-Fried's assertions regarding judicial bias and the overstated financial troubles of FTX were also deemed irrelevant to the case.
Ilya Lichtenstein, sentenced to five years for the 2016 Bitfinex hack, took full responsibility for the crime in a recent social media statement, distancing his wife, Heather Morgan, from the hack itself. Morgan, who received 18 months for money laundering, has resumed promoting her brand online, charging $125 for personalized video messages. A restitution hearing is set for February 21, with plans for user reimbursements to begin in early 2024.
Canal+ shares fell by as much as 19% to 191.10 pence after UBS initiated coverage with a neutral rating and a price target of 240 pence, citing concerns over the company's acquisition of MultiChoice amid declining profits and cash flow losses. This contrasts sharply with CIC Market Solutions, which predicts a rise to 450 pence, suggesting the market has already accounted for the associated risks. Following Canal+'s London debut, the combined value of Vivendi and its spinoffs dropped 10% from its standalone price in December.
Canal+ shares fell by as much as 19% to 191.10 pence after UBS initiated coverage with a neutral rating and a price target of 240 pence, citing concerns over the company's acquisition of MultiChoice amid declining profits and cash flow losses. This outlook contrasts sharply with CIC Market Solutions, which predicts a rise to 450 pence, suggesting the market has already accounted for the associated risks. Following Canal+'s London debut, the combined value of Vivendi and its spinoffs dropped 10% from its standalone price in December.

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